2. As Nifty Future was up by 9 points with Open Interest in Index Futures decreased by 6697, so FII booked profits in shorts created in Nifty and Bank Nifty Futures.After Fridays fall we expected a choppy session and nifty traded well in our NF intital Range of 5670-5620.

3. NS closed at 5571 after making a high of 5593 and low of 5549.So finally Gap created in Sep got filled today with NS making low of 5549. As discussed in Weekly analysis 5527 holds the key for the week and traders should use this as SL for longs held.

4. Resistance for Nifty has come up to 5593 and 5619 which needs to be watched closely ,Support now exists at 5549 and 5527.Trend is Sell on Rise till 5630 is not broken on closing basis.

5. Nifty Future November Open Interest is at 1.47 cores with liquidation of 2.9 lakh in OI,shorts booked profits NF. Cost of Carry of NF increased to 15.10 as NF again moved in premium of 18 points, as bulls were able to sustain and close once gap filling was done at 5554.

6. Total F&O turnover was at 1.20 lakh Cores with total contract traded at 1.67 lakh, PCR at 0.97 and VIX at 16.68.Do note volumes are high in today’s small range bound session which suggests short covering and buying by smart money. This theory holds valid till 5549 is not broken.

7. 5800 CE is having highest Open Interest of 91 Lakhs with liquidation of 1.14 lakhs in OI ,5700 added 5.8 lakhs in OI total OI at 86 lakhs ,5600 CE added 7 lakhs in OI so 5600 becomes the immediate resistance for Nifty. 5300-6000 CE added lakhs in 4.18 lakhs in OI.

8. 5400 PE is having Open Interest of 71 lakhs so now 5400 is having highest OI yesterday it was 5500,such wild swing suggests a good move is round the corner which side is anybody’s guess 🙂 . 5600 PE shedded 8 lakhs in OI as bulls were swampd away by bears and weak bulls exited as NS unable to move above 5600.5300-6000 PE liquidated 8.6 lakhs in OI.

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